USDA Announces Soybean Sales to China

Private exporters reported to USDA export sales of 124,500 metric tons (MT) of soybeans for delivery to China during the 2011-12 marketing year. The marketing year for soybeans began Sept. 1.

USDA issues both daily and weekly export sales reports to the public. Exporters are required to report to USDA any export sales activity of 100,000 metric tons or more of one commodity, made in one day or quantities totaling 200,000 tons or more in any reporting period, to one destination, by 3 p.m. Eastern time on the next business day following the sale. Export sales of less than these quantities must be reported to USDA on a weekly basis.

Juli says: Yesterday USDA announced a 420,000 MT sale to China for a grand total of 544,500 MT announced this week -- within expectations of 500,000 to 600,000 MT as traders factored into the market on Tuesday.